Master agreement signed for Wawa River small-scale hydroelectric plant on Mindanao island

2014/05/23

On May 17th,Chodai Co., Ltd. and group company Kiso-Jiban Consultants Co., Ltd. signed a master agreement with Equi-Parco Construction Company, Hydropower Resources Management and Consultancy, Inc. and Twinpeak Hydro Resources Corporation with the intention of opening a 23 MW hydroelectric plant on Mindanao island in the Philippines, the Wawa River small-scale hydroelectric plant, for operations in fiscal year 2018.

In order to guarantee the smooth implementation of the project, the Chodai group will invest 10% in a special-purpose company (the “SPC”) as well as dispatch one company executive on a part-time basis. Chodai also agreed to perform five kinds of consulting work related to engineering reviews, construction supervision, installation of water turbine generators, and O&M. The intention is to establish the SPC, Wawa Green Energy Corporation, by August this year.